Foot Locker, Inc. (NYSE:FL) Receives Average Rating of “Hold” from Brokerages

Foot Locker, Inc. (NYSE:FL) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $22.81.

Several analysts have weighed in on the stock. Barclays set a $24.00 price target on shares of Foot Locker in a research note on Wednesday, March 5th. Evercore ISI lowered their price target on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Guggenheim lowered their price target on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a research note on Wednesday, November 27th. Finally, Piper Sandler decreased their price objective on shares of Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th.

Hedge Funds Weigh In On Foot Locker

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC bought a new stake in Foot Locker during the fourth quarter worth about $34,835,000. Cooper Creek Partners Management LLC bought a new stake in Foot Locker during the fourth quarter worth about $30,416,000. Segall Bryant & Hamill LLC bought a new stake in Foot Locker during the fourth quarter worth about $18,640,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Foot Locker by 67.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after acquiring an additional 770,932 shares in the last quarter.

Foot Locker Stock Performance

NYSE FL opened at $16.59 on Friday. Foot Locker has a 52-week low of $14.98 and a 52-week high of $33.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The company has a market capitalization of $1.57 billion, a P/E ratio of -3.68, a P/E/G ratio of 0.53 and a beta of 1.55. The company has a fifty day moving average of $18.96 and a 200-day moving average of $22.29.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, equities research analysts predict that Foot Locker will post 1.23 EPS for the current fiscal year.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.